Counseling for troubled Freddie Mac borrowers
Written on February 10, 2010 – 12:46 pm | by admin
Freddie Mac and 13 local and national non-profit organizations announced a pilot effort to convince delinquent borrowers to pursue mortgage workouts that can save their houses and steer clear of foreclosure.
Freddie Mac’s new Borrower Help Centers in Chicago, Phoenix, San Bernardino and Washington, DC provide free, confidential one-on-one “holistic” mortgage counseling to delinquent Freddie Mac borrowers. The company is also launching a
separate Borrower Help Network offering similar counseling over the phone to targeted Freddie Mac borrowers.
Both efforts rely on non-profit organizations with strong reputations to contact and work with Freddie Mac borrowers who may be eligible for a modification but never called their lender, or became uncertain of the process and gave up trying.
To view more about this program, please visit here.